Rents see a rise of 2.6% over the last year

Data from the Office of National Statistics (ONS) reveals that private rental prices paid by tenants in the UK rose by 2.6% in the 12 months to January 2016. This figure is up on the December 2015 figure of 2.5%. Considerable regional variations exist, with London rents up by 3.9% whereas those in Wales rose by only 0.7%. Steve Bolton, founder of Platinum Property Partners, commented that a shortage of suitable properties combined with strong demand, both from people priced out of the housing market and those who prefer to rent, lies behind these increases.